SAULT STE. MARIE – Algoma Steel Group Inc. reported a net loss of $364.7 million in the fourth quarter compared with a net loss of $66.5 million during the same period a year earlier.
That amounted to a net loss per common share of $3.36 compared with a net loss of 61 cents in the prior year quarter.
The Sault Ste. Marie-based steel producer says its consolidated revenue came in at $455 million during the period ended Dec. 31, down year over year from $590.3 million.
Algoma says its direct tariff costs totalled $60.6 million during the fourth quarter.
The company says its shipments during the fourth quarter were 378,533 tons, falling 31 per cent annually from 548,802 tons
The federal and Ontario governments have provided Algoma with $500 million in financing to help support the company deal with U.S. President Donald Trump’s steel tariffs, which Algoma chief financial officer Michael Moraca says will help strengthen its balance sheet.
This report by The Canadian Press was first published March 11, 2026.
Companies in this story: (TSX:ASTL)
